|
<br />200706035
<br />
<br />said indebtedness, insured against loss by fire, lightning and windstorm, in such company or companies and for such
<br />amounts as the holder of said Deed of Trust Note may from time to time direct, not to exceed the amount of said
<br />indebtedness, except at the option of Trustor, with loss, if any, payable to the Beneficiary hereunder as its interest may
<br />appear, and will deliver the policy or policies of insurance, accompanied by premium receipts to the BcneficialY hereunder,
<br />as further security for the indebtedness aforesaid. And in case of the refusal or neglect of Trustor to thus insure and deliver
<br />such policies of insurance or to pay such taxes or assessments, thcn the holder of said Deed of Trust Note may procure such
<br />insurance, or pay such ta.-x.es or assessments, and all moneys thus paid, with interest thereon at 16.000 percent per annum,
<br />shall become so much additional indebtedness, secured by this Deed of Trust, and shall be paid out of the proceeds of the
<br />sale of the lands and premises aforesaid, if not otherwise paid by said Trustor. Trustor further agrees to keep and maintain
<br />the Assigned Pennits and Agreements in full force and effect and not to allow or suffer an event of default to occur
<br />thereunder.
<br />
<br />Each party to this Trust Deed requests that a copy of any notice of default and a copy of any notice of sale hereunder be
<br />mailed to each such party at the address set forth herein, as provided by the Nebraska Trust Deeds Act.
<br />
<br />,A..nd in the event of the foreclosure of this Deed of Trust, Trustor covenants and agrees to pay the cost of extending the
<br />abstract of title or obtaining a certificate of title from the date of recording this Deed of Trust to the date of filing suit, and
<br />upon failure of said party to do so, all money soadvanccd by Trustee shall bear interest at the rate of 16.000 percent per
<br />annum and shall be secured by this indenture. In addition, Trustor agrees to pay a reasonable attomey's fee for the
<br />prosecution of a foreclosure action, whieh shall be added to the principal balance at the time a foreclosure decree is entered
<br />or shall be paid by the Trustor if Trustee agrees that the default may be cured after the institution of a foreclosure suit.
<br />
<br />And in the event Trustee sells the Property by exercise of power of sale, Trustee shall be entitled to apply any sale proceeds
<br />first to payment of all costs and expenses of exercising power of sale, including all Trustee's fees, and Lender's and
<br />Trustee's attorney's fees actually incurred to the extent permitted by applicable law. In the event Borrower or Trustor
<br />exercises any right provided by law to cure an Event of Default, Lender shall be entitled to recover from Trustor all costs
<br />and expenses actually incurred as a result of Trustor's default, including, without limitation, all Trustee's and attorney's
<br />fees, to the extent permitted by applicable law. Such costs shall be added to the principal sum due hereunder and draw
<br />interest at the default rate of 16.000 percent per annum.
<br />
<br />The Trustee shall have the right to release with or without consideration or eredit on thc indcbtedness hercby secured, any
<br />part of the property herein described by adequate legal instrument without regard to the existence of any junior
<br />encumbrance and without the consent of such junior encumbrancer, and such release shall have no further effect upon the
<br />rank, lien or estate conveyed hereby or against the Trustee than is therein expressed.
<br />
<br />Beneficiary may at any time and from time to time appoint a successor Trustee by filing for record in each county where the
<br />trust property or part thereof is located a notice of Substitution of Trustee.
<br />
<br />Trustor also agrees that in the event the mortgaged premises, or any portion thereof, or any interest therein, are sold,
<br />mortgaged or conveyed or become subject to an agreement to sell, mortgage or convey prior to the time this loan shall have
<br />been paid in full, then the entire indebtedness shall become immediately due and payable at the option of the Beneficiary. A
<br />sale, assignment or transfer in any manner whatsoever of 10% or more of the capital stock of the grantor corporation shall
<br />be equivalent to a sale or conveyance of the security or an interest therein, and in that event Beneficiary shall have the
<br />option to accelerate the debt, declare the entire loan balance due and enforce collection of same, including foreclosure of the
<br />Deed of Trust lien.
<br />
<br />5
<br />
|